Welcome

While all wealthy families face complex financial issues, each has its own challenges, opportunities and  aspirations. Based on a deep understanding of these factors, we can help you create a customized, comprehensive plan to help you achieve your unique vision and goals.

As Morgan Stanley Private Wealth Advisors, we combine our own talents and experience with the vast resources of a global financial services firm to address the planning, governance, liability management and investing needs of ultra high net worth families, their businesses and philanthropic enterprises. We take a holistic approach that is grounded in investment strategy, but covers virtually every aspect of your financial life: risk management, liabilities, trusts and estate structures and even family dynamics and lifestyle management issues. Our goal is to help preserve and grow your financial, family and social capital so that it can have the greatest positive impact today and for generations to come.
Capabilities
  • Comprehensive Wealth Planning
  • Philanthropy Management
  • Family Governance & Wealth Education
  • Pre-Liquidity Planning
  • Risk Management
  • Sustainable & Responsible Investing
  • 10b5-(1) Programs
  • Tax, Trust & Estate Advisory1
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*

About PWM

Founded in 1977, Private Wealth Management is the division of Morgan Stanley Wealth Management that is dedicated to serving the firm’s most affluent clients, including some of the world’s most accomplished entrepreneurs, executives and stewards of multigenerational wealth. Functioning as an exclusive investment boutique within a global financial firm, we deliver sophisticated solutions that leverage the intellectual capital and insight of Morgan Stanley’s substantial global resources. Drawing on a deep understanding of your financial life, our goal is to help you:
  • Manage investments with an unwavering focus on your financial strategy and personal goals
  • Create comprehensive, multigenerational wealth management plans based on your needs, challenges and the values that guide your life and legacy
  • Simplify financial complexity to help you achieve clarity and control
Private Wealth Management Highlights
  • Approximately 250 teams1  specialized in assisting individuals and families with $20MM+ in investable assets
  • Over $330 billion in AUM2
  • Comprising 26% of the Barron’s Top 100 Financial Advisors list for 20173
  • Direct access to ultra high net worth experts in philanthropy, family dynamics, wealth transfer, lifestyle advisory and other areas of interest to ultra high net worth families
1 Morgan Stanley Wealth Management, December 31, 2017
2 Morgan Stanley Internal Compensable Revenue Report, December 31, 2017
3 Barron’s Top 100 Financial Advisors, April 2017

Approach

Discovery Process
Investing the time to learn about you and your family; your assets and liabilities and the risk exposures, enables us to formulate strategies and customize the relationship to your needs.
Formulation of Tax, Trust and Estate Strategy
Working with your tax and legal advisors, we help analyze your income and estate tax circumstances to identify and tailor planning techniques that may be used to address your objectives.
Creation of Customized Strategic Asset Allocation
Your customized asset allocation reflects risk, opportunities and taxation across multiple entities, while integrating your investing and estate plans.
Integration of Tactical Asset Allocation
Short-term adjustments seek to capitalize on temporary market distortions. Before making adjustments, we analyze the impact of taxes and trading costs on potential returns.
Implementation of a Customized Wealth Strategy
After comprehensive due diligence and analysis of expected results across multiple market scenarios, strategies are chosen from our expansive investment platform.
Ongoing Assessment
In coordination with your other advisors, we can conduct ongoing reviews and comprehensive reporting to ensure that your strategy adapts to changing financial and family needs.
Please click below to view additional information on the following topics:
    Please click below to view additional information on the following Family Office Resources:

    Location

    1650 Market St 42nd
    Fl
    Philadelphia, PA 19103
    US
    Direct:
    (215) 854-1175(215) 854-1175

    Meet The Richman Group

    About Me

    Marc Richman leads a team that works with some of the wealthiest families in the mid-Atlantic region, providing customized investment management and wealth planning services. Marc's group focuses on risk management in constructing investment and estate planning strategies. Marc moved to Morgan Stanley Private Wealth Management in 2012 from Deutsche Bank Private Wealth Management, where he was also a managing director. His investment career began more than 30 years ago at Kidder Peabody. Marc has been recognized as a Barron's Top 1,200 Financial Advisor from 2009-11 and 2013-14, and a Financial Times Top 400 Financial Advisor in 2014.

    Marc earned an MBA from Columbia Business School and an A.B. from Clark University. He serves on the boards of the Independent Mission Schools, the Agnes Irwin School and the St. Martin dePorres School.

    marc.richman@morganstanleypwm.com
    215-854-1184
    Securities Agent: PA, WY, WA, VT, VA, RI, NY, NV, NM, NJ, NH, MD, MA, FL, DE, DC, CT, CO, CA; General Securities Representative; Investment Advisor Representative
    NMLS#: 1279146

    About Me

    Brian A. Bernhardt provides strategic investment advice and sophisticated financial planning services to ultra high net worth families. A Certified Financial Planner, he often works with the team's clients and their other trusted advisors to develop estate plans focused on strategic asset placement, wealth transfer and tax mitigation strategies.

    Prior to joining Morgan Stanley Private Wealth Management in 2012, Brian served as a financial advisor at Deutsche Bank Private Wealth Management. He is a graduate of Cornell University with a B.A. in political science and international relations. He serves as a trustee for St. Mark's Endowment and on the advisory of St. James School.

    brian.a.bernhardt@morganstanleypwm.com
    215-854-1171
    Securities Agent: PA, WY, WA, VT, VA, RI, NY, NV, NM, NJ, NH, MD, MA, FL, DE, DC, CT, CO, CA; General Securities Representative; Investment Advisor Representative
    NMLS#: 1279070

    About Me

    (215) 963-3898 B.A., Georgetown University
    ryan.flynn@morganstanley.com J.D., LL.M., Villanova Law & Georgetown Law

    Ryan Flynn counsels families, businesses, and institutions in all facets of managing wealth. He employs thorough planning and a precise attention to details in pursuit of sophisticated solutions that integrate all areas of a client’s financial world, including investment management and the mitigation of market risk; income tax and estate planning strategies; trust administration; philanthropic techniques; sophisticated retirement plan structures; as well as the formation, succession, and sale of closely-held businesses.

    Ryan received his B.A. from Georgetown University and his J.D. from the Villanova University School of Law, where he earned the honor of being appointed Editor-In-Chief of the Villanova Tax Law Compendium. He continued his course of studies in tax, estates, and business planning at the Georgetown University Law Center and Villanova’s Graduate Tax Law Program, where he received his LL.M. (Master of Laws) in Taxation and earned the distinction of graduating in the top 10% of his class. He has dedicated his career, first with the Family Office Services group at PricewaterhouseCoopers LLP, then with one of the region’s premier Private Wealth practices at the law firm of Archer P.C., to providing clients with practical and innovative guidance for financial matters of all shapes, sizes, and complexities. As a member of Morgan Stanley, Ryan does not provide tax or legal advice.

    Ryan serves as President of The Georgetown University Club and on the Board of Governors of St. Joseph’s Preparatory School. He also is a member of the Bar Associations and Estate and Financial Planning Councils of Philadelphia and New Jersey, as well as the Bringing Up Down Syndrome (BUDS) Organization, where he and his younger sister Tricia participate in recreational programs.
    Securities Agent: PA, WA, VT, VA, UT, TX, RI, OR, OH, NY, NV, NM, NJ, NH, NC, MO, MI, MD, MA, KY, KS, IN, IL, ID, GA, FL, DE, DC, CT, CO, CA, AZ, AR, AK; General Securities Representative; Investment Advisor Representative
    NMLS#: 1398794

    About Me

    A Certified Financial Planner, Tracy Caruso is responsible for supporting the team's asset allocation analysis, investment manager due diligence, and financial planning process. Tracy began her career as a registered sales associate at Deutsche Bank in Chicago. She holds a B.S. in finance from the University of Illinois.

    tracy.eckes@morganstanleypwm.com
    215-854-1175

    About Me

    Shaye is a Senior Associate and the newest member of The Richman Group.  She joins us internally from Morgan Stanley and brings with her a wealth of knowledge from her more than 13 years of Private Wealth Management experience. A Philadelphia native, Shaye is a graduate of Temple University where she obtained her Bachelor of Business Administration and is currently enrolled in the Universitys part-time MBA Program.  When shes not working or attending class, Shaye likes to travel to new places and spend time with family and friends. 

    shaye.efunnuga@morganstanleypwm.com
    215-963-3918

    About Me

    As a Registered Associate, Casey facilitates the management of client accounts by implementing aspects of the financial plan, investigating and resolving operational issues, and delivering timely solutions to client inquiries. She also assists in developing and maintaining relationships with new and existing clients. Casey began her career as an Institutional Municipal Sales Associate at Oppenheimer & Co. Inc. She obtained a B.S. in Business Administration with a concentration in Finance from the LeBow College of Business at Drexel University. Casey holds Series 7, 52, and 66 licenses. Outside of work Casey enjoys singing for fun, traveling, and spending time with her family and friends including her dog Reggie and cat Mickey.

    casey.conklin@morganstanley.com
    215-854-1651
    Professional Insights

    Early-Stage Trust and Estate Planning


    Economic and Market Perspectives

    On the Markets

    Managing Significant Wealth

    • Investment Management
    • Wealth Transfer & Philanthropy
    • Cash Management & Lending
    • Family Governance & Wealth Education
    • Lifestyle Advisory
    • Business Services
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    Certified Financial Planner™ Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and CFP® (with flame logo)® in the U.S., which it awards to individuals who successfully complete CFP® Board's initial and ongoing certification requirements.

    1Morgan Stanley Smith Barney LLC and its affiliates and their employees (including Financial Advisors and Private Wealth Advisors) are not in the business of providing tax or legal advice. These materials and any statements contained herein should not be construed as tax or legal advice. Individuals should consult their personal tax advisor or attorney for matters involving taxation and tax planning and their attorney for matters involving personal trusts and estate planning.

    The securities/instruments, investments and investment strategies discussed on this website may not be suitable for all investors. The appropriateness of a particular investment or investment strategy will depend on an investor's individual circumstances and objectives. The views and opinions expressed on this website may not necessarily reflect those of Morgan Stanley Smith Barney LLC (“Morgan Stanley”). This website and its associated content are intended for U.S. residents only.

    Morgan Stanley and its Private Wealth Advisors do not provide tax or legal advice. Visitors to this website should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.

    Morgan Stanley Private Wealth Advisers may only transact business in states where they are registered or excluded or exempted from registration. Transacting business, follow-up and individualized responses involving either effecting or attempting to effect transactions in securities, or the rendering of personalized investment advice for compensation, will not be made to persons in states where Morgan Stanley Private Wealth Advisers are not registered or excluded or exempt from registration.

    See the Financial Advisors Biographies for Registration and Licensing information.

    Certified Financial Planner™ Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and CFP® (with flame logo)® in the U.S., which it awards to individuals who successfully complete CFP® Board's initial and ongoing certification requirements.

    Investment Management Consultants Association, Inc. owns the marks CIMA®, Certified Investment Management Analyst® (with graph element)®, and Certified Investment Management Analyst® .

    Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.

    Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY

    Morgan Stanley Smith Barney LLC offers insurance products in conjunction with its licensed insurance agency affiliates.

    Life insurance, disability income insurance, and long-term care insurance are offered through Morgan Stanley Smith Barney LLC's licensed insurance agency affiliates.